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Welcome to Joining our MD Consortium an innovation network, it’s enough for you. You need to engage actively to make the most of that. This means contributing your ideas, insights, and resources, as well as listening, learning, and to benefits from our innovative supporting process.
All companies can develop new products and services in less time than other corporations via the solution of virtual innovation lab(s), as a smart innovative business model from MD Consortium, of Muayad Alsamaraee. the solution of virtual innovation lab(s), can revolutionizes invents with you to develop new products and services.
Technology catch-up is the process by which countries with relatively low technological levels can benefit from available production knowledge and therefore reduce the productivity and income gap with respect to leading countries.
New ideas and technologies are developed and applied, generating greater output with the same input. More goods and services are produced, stimulating wages and business profitability. Innovation and productivity growth bring vast benefits for consumers and businesses.
Creating a virtual innovation lab(s) solution from MD Consortium, is a new kind of physical space that encourages the creation, development, and implementation of novel ideas. Such a space grows potential earning opportunities and relationships within an organization alike.
The catch-up effect is a theory that all economies will eventually converge in terms of per capita income, due to the observation that underdeveloped economies tend to grow more rapidly than wealthier economies. In other words, the less wealthy economies will literally "catch-up" to the more robust economies.
It is reshaping work processes, production methods, and consumption patterns. Technology not only drives innovation and fosters growth opportunities but also presents challenges to traditional models of economic development that professionals are accustomed to.
A key concern is whether countries should focus on frontier innovation (the first application of a specific innovation in the world) or on catch-up innovation (the first application of an innovation that already exists elsewhere in the world).
Technology transfer helps develop early-stage intellectual property into tools for direct use by the research community, or into bases for new platforms, products, or services to be made into products for public use.
It can also help solve global challenges such as climate change, health, and security, by bringing together the expertise and resources of different actors. Technology transfer can also create value for both academia and industry, by generating new products, services, patents, revenues, and collaborations.
Unlike other business assets, intellectual property has no fixed value, nor is it pegged to any market rate and as your business grows and awareness of your brands, products or services increases, so will the value of your intellectual property.
Innovation needs a structured framework and registering your IP ensures that your ideas are legally protected when marketing them. This becomes especially important for companies planning to export their products to new markets.
Multi-theories of technology and innovation; the product-process concept, the meta-learning concept, and the concept of technological interdependence, are used to relate technology and innovation to strategic management. It is important to distinguish between frontier innovation and catch-up innovation.
These choices are particularly relevant for resource constraint developing countries since they often lag the world innovation frontier. Both types of innovation also work through different mechanisms to impact economic growth and development.